FFSM vs. FMAT ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to Fidelity MSCI Materials Index ETF (FMAT)

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$28.23

Average Daily Volume

28,455

Number of Holdings ^*

171

* may have additional holdings in another (foreign) market

FMAT

Fidelity MSCI Materials Index ETF

FMAT Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Materials Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Materials Index, which represents the performance of the materials sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Materials Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.63

Average Daily Volume

33,415

Number of Holdings ^*

110

* may have additional holdings in another (foreign) market

Performance

Period	FFSM	FMAT
30 Days	0.79%	-4.60%
60 Days	2.99%	-0.40%
90 Days	5.77%	2.52%
12 Months	31.40%	18.34%

11 Overlapping Holdings

Symbol	Grade	Weight in FFSM	Weight in FMAT	Overlap
AXTA	B	0.42%	0.63%	0.42%
CBT	C	0.59%	0.42%	0.42%
CC	D	0.01%	0.2%	0.01%
CMC	B	0.6%	0.48%	0.48%
ESI	B	0.54%	0.46%	0.46%
EXP	B	1.44%	0.73%	0.73%
GPK	D	0.71%	0.61%	0.61%
IP	A	0.37%	1.32%	0.37%
LPX	B	0.65%	0.51%	0.51%
OLN	F	0.45%	0.35%	0.35%
STLD	B	0.01%	1.44%	0.01%

FFSM Overweight 160 Positions Relative to FMAT

Symbol	Grade	Weight
EME	A	1.81%
UHS	D	1.5%
FTI	A	1.47%
TPX	B	1.46%
ACGL	D	1.45%
MUSA	B	1.34%
NSIT	F	1.33%
AR	B	1.27%
BJ	B	1.22%
FN	B	1.22%
ITT	A	1.2%
CROX	F	1.17%
PFGC	B	1.16%
USFD	A	1.16%
VRT	A	1.14%
SN	D	1.11%
JLL	D	1.1%
MOH	F	1.1%
CACI	C	1.06%
WHD	B	1.01%
CR	A	1.01%
RRX	B	1.01%
ORI	A	0.96%
SNX	D	0.95%
DOX	D	0.92%
AIZ	A	0.91%
BOOT	D	0.9%
TMDX	F	0.9%
LNG	A	0.9%
DFS	B	0.89%
AIT	B	0.88%
SNV	B	0.88%
DKS	D	0.84%
STX	D	0.84%
AYI	B	0.81%
TGLS	B	0.81%
FAF	C	0.77%
ALSN	B	0.76%
BC	D	0.76%
VTR	B	0.76%
RGA	B	0.76%
NXST	C	0.75%
SF	B	0.75%
PNFP	B	0.73%
PCG	A	0.72%
HLI	B	0.71%
AEIS	B	0.66%
ACM	B	0.66%
ASGN	F	0.65%
AES	F	0.65%
KBH	D	0.64%
FCNCA	A	0.63%
ON	F	0.62%
BECN	B	0.61%
MMS	D	0.6%
FSS	B	0.6%
LBRT	F	0.59%
G	B	0.59%
VNT	C	0.59%
CADE	B	0.59%
WBS	A	0.57%
NOG	B	0.57%
MEDP	D	0.57%
MTSI	B	0.57%
PRI	A	0.56%
EPRT	A	0.56%
HOLX	D	0.56%
XPO	B	0.56%
BCO	F	0.56%
CHDN	C	0.54%
CIEN	B	0.53%
ASO	F	0.53%
WTFC	B	0.52%
CRL	D	0.52%
CWK	C	0.51%
RJF	A	0.51%
PVH	C	0.51%
HAYW	B	0.51%
IESC	A	0.51%
GMS	B	0.51%
WIX	A	0.5%
AFG	A	0.49%
EBC	B	0.49%
CTRE	C	0.49%
EAT	A	0.47%
CNM	C	0.47%
KBR	F	0.46%
BOKF	B	0.46%
BLDR	D	0.46%
TENB	D	0.45%
PRCT	B	0.44%
LITE	B	0.44%
NOMD	D	0.42%
TEX	D	0.42%
ARGX	B	0.41%
COMP	B	0.4%
LW	C	0.4%
MASI	B	0.39%
CXT	C	0.36%
CAH	B	0.36%
GVA	A	0.35%
RUSHA	B	0.35%
AZZ	A	0.34%
GTES	A	0.33%
WFRD	F	0.33%
PCVX	D	0.32%
FLEX	B	0.31%
AZEK	B	0.3%
UPBD	C	0.3%
ARCB	C	0.3%
MTB	A	0.3%
SKY	A	0.3%
LEA	F	0.3%
GRBK	D	0.3%
CNXC	F	0.29%
IBTX	B	0.29%
FBP	B	0.29%
LCII	D	0.29%
DIOD	F	0.27%
AMN	F	0.27%
ALGM	F	0.24%
LAUR	A	0.24%
DOOO	F	0.23%
PATK	D	0.2%
CRNX	C	0.19%
ACLX	C	0.19%
RGEN	F	0.19%
KFRC	D	0.18%
CYTK	D	0.18%
MDGL	C	0.16%
NUVL	D	0.16%
AAP	D	0.15%
XPRO	F	0.14%
MNDY	D	0.14%
KROS	D	0.13%
ELVN	C	0.12%
VCEL	A	0.12%
VRDN	D	0.12%
OMI	F	0.12%
AXSM	B	0.11%
ANAB	F	0.11%
CSTM	F	0.11%
TYRA	D	0.11%
COGT	D	0.11%
LBPH	A	0.1%
ICLR	F	0.1%
CLDX	F	0.1%
XENE	D	0.09%
AUTL	F	0.08%
TCBK	B	0.08%
MRUS	F	0.07%
PBH	A	0.06%
ARVN	F	0.04%
ATKR	D	0.01%
FIBK	B	0.01%
LPLA	A	0.01%
AME	A	0.01%
ALXO	F	0.0%
EWTX	C	0.0%
ZNTL	D	0.0%

FFSM Underweight 99 Positions Relative to FMAT

Symbol	Grade	Weight
LIN	D	-15.3%
SHW	C	-6.57%
APD	A	-4.93%
ECL	D	-4.47%
FCX	F	-4.36%
NEM	D	-3.29%
CTVA	C	-2.81%
VMC	B	-2.62%
MLM	B	-2.54%
NUE	D	-2.46%
DD	D	-2.44%
DOW	F	-2.2%
PPG	F	-2.03%
SW	A	-1.84%
IFF	D	-1.6%
LYB	F	-1.51%
PKG	B	-1.49%
BALL	D	-1.35%
RS	B	-1.25%
RPM	B	-1.23%
AVY	D	-1.13%
CF	A	-1.1%
AMCR	D	-1.03%
ALB	B	-0.84%
EMN	D	-0.83%
ATR	B	-0.81%
CCK	D	-0.76%
AA	A	-0.68%
RGLD	C	-0.65%
MOS	D	-0.59%
CE	F	-0.57%
CRS	A	-0.57%
X	C	-0.57%
BERY	D	-0.53%
FMC	D	-0.49%
ATI	C	-0.49%
SUM	B	-0.42%
CLF	F	-0.4%
BCPC	B	-0.4%
KNF	B	-0.36%
SON	F	-0.35%
SEE	D	-0.35%
WLK	F	-0.34%
AVNT	B	-0.33%
SLGN	A	-0.32%
FUL	F	-0.29%
NEU	D	-0.27%
ASH	F	-0.26%
HCC	B	-0.24%
HL	C	-0.23%
HUN	F	-0.22%
SMG	C	-0.22%
SLVM	C	-0.21%
IOSP	C	-0.21%
SXT	C	-0.2%
ARCH	B	-0.2%
AMR	C	-0.18%
MTX	C	-0.18%
MTRN	C	-0.17%
KWR	D	-0.17%
HWKN	B	-0.17%
CDE	C	-0.17%
MP	C	-0.16%
OI	D	-0.14%
GEF	B	-0.12%
PRM	B	-0.12%
SCL	D	-0.12%
NGVT	C	-0.11%
USLM	A	-0.11%
WS	B	-0.1%
TROX	D	-0.09%
PCT	C	-0.09%
KALU	C	-0.09%
CENX	B	-0.08%
ASPN	F	-0.07%
TRS	B	-0.07%
OEC	C	-0.07%
SXC	A	-0.07%
KOP	C	-0.06%
ASIX	C	-0.06%
ECVT	C	-0.06%
MATV	F	-0.05%
GATO	C	-0.05%
IE	C	-0.05%
RYI	C	-0.05%
HAYN	A	-0.05%
PTVE	B	-0.04%
MTUS	D	-0.04%
METC	C	-0.03%
MYE	F	-0.03%
ZEUS	C	-0.03%
CMP	C	-0.03%
CLW	F	-0.03%
LXU	C	-0.03%
RDUS	C	-0.03%
MERC	F	-0.02%
KRO	F	-0.02%
PACK	C	-0.02%
GEF	B	-0.02%